• Continued strong earnings growth
• Free cash flow recovery started
• 2018 operational earnings target and 2016-2020 outlook confirmed

Enerjisa Enerji has published its financial statements as of 30.06.2018. Turkey’s leading electricity distribution and retail company Enerjisa Enerji has increased its consolidated operational earnings by 58% to 1,723 m TL in the first half compared to the results of the previous year. The company has increased its underlying net income to 411 million TL.

 “We confirm our targeted full year 2018 operational earnings of 3.0-3.3bnTL”

Enerjisa Enerji CFO Sascha Bibert stated that the strong growth achieved in the first quarter following the IPO, continued in the second quarter as well. Bibert commented on the performance of the first half and added “Enerjisa Enerji continued investments as planned in the second quarter and recorded strong operational earnings growth driven by both increased Distribution and Retail earnings. In addition, cash generation in the context of earnings picked up in the second quarter, resulting in a recovery of free cash flow”

Based upon this successful second quarter performance, Enerjisa confirms its full year 2018 operational earnings target of 3.0-3.3 bn TL.